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Virtual Business--Management Vocabulary Activity

AB
ResumeA document that job applicants use to summarize education and experience levels
EmployeeA person who works for another person or company for payment
Referencea testimonal of the skills & experience of a job applicant
Opinionan exprssion of one's beliefs regarding certain issues
SegmentA group of people having something in common
Compensationpayment of some kind
Workloadthe quantity of work that is allocated to an employee
SurveyA group of people having something in common
Supervisionthe act of directing employees
Performancethe way in which an individual is able to carry out or complete a task
Warningsome sort of verbal or written notice that alerts an individual or group to a certain issue or problem
Striketerminate all work activities in an effort to force an employer to meet the terms of employee demands
Collective Bargaininga compromise between an employer & a labor union
Labor Unionan association of employees created for the intention of voicing & advancing its' members interests
Picketingoccurs when union workers are on strike and form an organized public protest against a company they work for
Shelf Spacethe amount of space allocated for goods
Allocateto distribute something or assign something for a particular purpose
Ergonomicsa practical application of skills & knowledge that focuses on the design & arrangement of the objects individuals use so that the interaction between the two run smoothly
Salesdescribes the process of making offers to sell goods or services to potential or current customers
Discounta decrease made from the standard or catalog price
Logisticsthe handling of the scheduling, planning, & route mapping of a truck delivery operation
Liabilitythe state of being at fault or to blame for an event
Actual Cash Valuetype of insurance guarantees one reimbursement from the insurance company that is equal to the actual cost of replacing the property that was damaged minus depreciation costs
Replacement Costtype of insurance guarantees one reimbursement from the insurance company that is equal to the cost of replacing the property that was damaged
Deductiblethe amount of money the insured must pay for damages or loss
Capitalmoney invested in a business
Sole Proprietorshipa business owned by one individual
Partnershipa business owned by 2 or more individuals
Corporationa business that sells shares of the business (stock) to others in exchange for capital
Personal Taxesa percentage of money that individuals must pay to the government based on income
Corporate Taxesa percentage of money that a corporation must pay to the government based on company earnings
Surprisean event or action that occurs without prior knowledge
Contingency Planningpreparations that are made ahead of time for an event that may or may not occur
Scenario Planningthe process of developing plans or a course of action for an imagined series of events
Turnaroundan attempt to make an unprofitable business profitable again


Business Teacher
Willard High School
Willard, OH

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